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There is a lot to know about auto insurance in order to fully understand what you're paying for. The following information provides a quick education to help you navigate the twists, turns and choices involved in buying auto insurance.
Auto insurance includes three broad coverage categories designed to protect you from financial loss if you have an accident:
• Property coverage pays for damage to or theft of your car.
• Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
• Medical coverage pays for the cost of treating injuries, rehabilitation and lost wages.
Within the three broad coverage categories listed above, an auto insurance policy is comprised of six different kinds of coverage. Most states require you to buy some, but not all, of these coverages. If you're financing a car, your lender may also have requirements.
• Liability
• Medical payments
• Uninsured motorist/Underinsured motorist
• Damage to your auto
• Personal injury protection (No Fault)
• Additional, optional coverages
Remember that in order for your insurance coverage to take effect, all drivers and cars must be specifically listed on your policy. You should also refer to your automobile contract for the specific terms and conditions of the coverage that you have purchased. If you have any further questions you should speak directly with an independent agent or KSA Insurance representative.
Homeowners insurance is basically designed to bring your home and possessions back to the same condition they were in before a loss occurred. There are several different types of homeowners policies offered by a wide variety of insurance companies and not all coverages are the same or are available in all states. You should speak directly with an independent agent or Travelers representative about your specific coverage needs.
While reading through the information below, you should keep in mind a couple definitions: (a) Exclusions are situations where your policy does not provide coverage; and (b) Liability is something for which you are legally responsible.
Dwelling (referred to as Coverage A in the policy)
Imagine your house on moving day...empty, waiting to be filled. This is the part referred to as Coverage A: your physical home (rooms, fireplaces, tile floors, carpeting, etc.) and the structures attached to it, such as an attached garage.
The amount of coverage assigned to your dwelling should reflect the amount it would cost to completely repair or rebuild your home should it suffer a covered loss. Often this is determined by your home's purchase price plus inflation. However, if it's been a while since you last updated your policy coverage or if you are not sure that your dwelling is adequately covered, you can either check with your agent or Travelers representative.
Other structures (Coverage B)
Not all structures that exist on your property are actually attached to your house. Therefore, Coverage B offers insurance protection for other structures such as a detached garage, gazebo, or storage shed.
Personal property (Coverage C)
Your personal possessions such as furniture, clothing and appliances are covered. Certain types of possessions are excluded or have limited coverage. Please see personal property exclusions and limits of coverage for more specific information.
Loss of use (Coverage D)
The coverage is also called Additional Living Expense. Essentially, this pays for your housing and other living expenses (like meals and laundry) if a major loss makes your house uninhabitable and you have to move out temporarily while it's being repaired.
Covered Perils
A homeowners insurance policy provides protection from the following perils:
• fire or lightning
• windstorm or hail
• explosion
• aircraft
• vehicles
• riot or civil commotion
• smoke
• theft
• vandalism/malicious mischief
• glass breakage
• volcanic eruption.
Some policies also provide coverage for:
• falling objects
• weight of ice, snow or sleet
• freezing of plumbing
• accidental plumbing discharge
• rupture of steam or hot water heating system, air conditioning systems, or water heaters
KSA Insurance makes it easy to buy auto, home ,
life and other insurance!
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